CPQ
Definition
CPQ stands for Configure, Price, Quote. It is a software solution that helps companies configure complex products, determine the right price, and generate quotes. CPQ systems are particularly useful for B2B companies such as manufacturers and wholesalers, as they streamline the sales process and reduce errors.
Examples of CPQ applications include:
- A brick manufacturer offers an online configurator that allows architects and end customers to simulate a façade with different types of bricks, joint thicknesses, masonry bandages, etc. The configurator is used both to make design choices and to make it easier to order the right amount of material.
- An industrial machine manufacturer can use a CPQ system to help customers configure machines with specific options and accessories, and then automatically calculate a price and generate a quote.
- A wholesaler of packaging materials can use a CPQ system to allow customers to choose from various packaging solutions, where the price depends on the materials and quantities chosen, and to provide an immediate quote.
These systems ensure that companies can work more efficiently and serve customers faster and more accurately.
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